Grocery Outlet (NASDAQ:GO) Sets New 1-Year Low – Here’s What Happened

Grocery Outlet Holding Corp. (NASDAQ:GO)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $10.19 and last traded at $10.20, with a volume of 2433520 shares traded. The stock had previously closed at $10.56.

Analyst Ratings Changes

GO has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Grocery Outlet in a research note on Wednesday, October 8th. UBS Group reiterated a “neutral” rating and set a $11.50 price objective on shares of Grocery Outlet in a report on Thursday. Morgan Stanley dropped their target price on shares of Grocery Outlet from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 4th. Bank of America decreased their price target on shares of Grocery Outlet from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Finally, DA Davidson reiterated a “neutral” rating and issued a $15.00 price target on shares of Grocery Outlet in a report on Thursday, December 4th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Grocery Outlet presently has an average rating of “Hold” and a consensus price target of $15.14.

Grocery Outlet Trading Down 3.8%

The stock has a market cap of $969.62 million, a PE ratio of -197.60, a price-to-earnings-growth ratio of 1.63 and a beta of 0.47. The company’s 50-day moving average price is $12.45 and its 200 day moving average price is $14.35. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.25 and a current ratio of 1.30.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. Grocery Outlet had a positive return on equity of 5.86% and a negative net margin of 0.10%.The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the business posted $0.28 earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. Grocery Outlet has set its FY 2025 guidance at 0.780-0.80 EPS. On average, sell-side analysts forecast that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal year.

Insider Transactions at Grocery Outlet

In other Grocery Outlet news, EVP Steven K. Wilson sold 25,000 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $12.53, for a total value of $313,250.00. Following the transaction, the executive vice president owned 116,923 shares of the company’s stock, valued at $1,465,045.19. This represents a 17.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Grocery Outlet

Hedge funds have recently bought and sold shares of the company. Manhattan West Asset Management LLC grew its position in Grocery Outlet by 5.7% in the 3rd quarter. Manhattan West Asset Management LLC now owns 71,964 shares of the company’s stock valued at $1,155,000 after acquiring an additional 3,877 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in Grocery Outlet during the 3rd quarter worth about $162,000. Scientech Research LLC raised its position in Grocery Outlet by 63.4% in the 3rd quarter. Scientech Research LLC now owns 20,702 shares of the company’s stock valued at $332,000 after purchasing an additional 8,036 shares in the last quarter. Prosperity Wealth Management Inc. purchased a new position in shares of Grocery Outlet in the 3rd quarter valued at about $305,000. Finally, Mariner LLC purchased a new position in shares of Grocery Outlet in the 3rd quarter valued at about $402,000. Institutional investors and hedge funds own 99.87% of the company’s stock.

Grocery Outlet Company Profile

Grocery Outlet Holding Corp. operates as a retailer of consumables and fresh products sold through independently operated stores in the United States. Its stores offer products in various categories, such as dairy and deli, produce, floral, fresh meat, seafood products, grocery, general merchandise, health and beauty care, frozen food, beer and wine, and ethnic products.